Most organisations routinely review their direct competitors, capture what they're up to in a slide deck and don't actually do anything with it.
To get value from conducting a competitor review, you need to break down the entire customer journey, know who you should really be trying to outperform and then focus on the things that are unique to you.
Get practical by analysing your competitors to find features with low maturity through scoring. Know how to apply customer and brands lenses through a proven methodology. Stop being too scared to launch services that aren't tried and tested. Demonstrate to leadership why these opportunities will provide growth.
Creating your Customer Journey Framework
Stop pretending you have a customer journey. You don't. No one does. Know how to create your category specific framework to enable you to conduct maturity assessments, create a common language for your whole organisation, and to take control of your customer experience.
Conducting a heuristic review
Change hearts and minds in your organisation by collaborating with colleagues to identify competitors and comparators. Know how to conduct detailed scoring and capture current experiences.
Applying unique lenses
There will be many opportunities - but most won't be a fit for your organisation, nor can you support so many initiatives. Learn how to apply your customer goals and brand values to isolate features that are needed and unique to your organisation.
Persuade leadership
Package evidence to convince your peers and leadership why these are the correct strategies to drive growth and to develop the first-mover advantage, always keeping you ahead and leaving your competitors to play perpetual catch-up.